Hiap Seng Ind 1L2
Financials
Annual Report 2026
Explore the statements
9 tablesConsolidated Statement of Comprehensive Income (Group)
18 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, year ended 31 March 2026 | 2025Group, year ended 31 March 2025 | Source |
|---|---|---|---|
| Income statement | |||
| Revenue$'000 | 24,417 | 22,862 | PDF p. 18 |
| Cost of services rendered$'000 | (17,937) | (15,467) | PDF p. 18 |
| Gross profit$'000 | 6,480 | 7,395 | PDF p. 18 |
| Other income$'000 | 1,146 | 3,942 | PDF p. 18 |
| Other losses$'000 | (51) | (151) | PDF p. 18 |
| Expenses | |||
| – Administrative$'000 | 3,994 | (4,211) | PDF p. 18 |
| – Finance$'000 | – | (9) | PDF p. 18 |
| Income statement | |||
| Share of profit of associated companies$'000 | 2 | 13 | PDF p. 18 |
| Profit before income tax$'000 | 3,583 | 6,979 | PDF p. 18 |
| Income tax expense$'000 | (745) | (783) | PDF p. 18 |
| Profit for the year$'000 | 2,838 | 6,196 | PDF p. 18 |
| Items that may be reclassified subsequently to profit or loss | |||
| Currency translation differences arising from consolidation$'000 | 23 | (667) | PDF p. 18 |
| Items that will not be reclassified subsequently to profit or loss: Financial assets, at FVOCI | |||
| – Fair value changes – equity investment$'000 | (633) | 194 | PDF p. 18 |
| Other comprehensive income/(loss) | |||
| Other comprehensive loss, at nil tax$'000 | (610) | (473) | PDF p. 18 |
| Income statement | |||
| Total comprehensive income$'000 | 2,228 | 5,723 | PDF p. 18 |
| Profit attributable to | |||
| Equity holders of the Company$'000 | 2,838 | 6,196 | PDF p. 18 |
| Earnings per share | |||
| Basic earnings per share (cents per share)cents per share | 0.06 | 0.18 | PDF p. 18 |
| Diluted earnings per share (cents per share)cents per share | 0.06 | 0.16 | PDF p. 18 |
Definitions & sources
Original report: PDF p. 18 ↗
The Equity holders of the Company row appears twice: under Profit attributable to (2,838; 6,196) and under Total comprehensive income attributable to (2,228; 5,723). Only the first is listed above.
The Administrative expense for 2026 is printed as 3,994 without parentheses, as in the source.
Consolidated Statement of Financial Position (Group and Company)
20 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, 31 March 2026 | 2025Group, 31 March 2025 | 2026Company, 31 March 2026 | 2025Company, 31 March 2025 | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipment$'000 | 8,848 | 7,252 | – | – | PDF p. 19 |
| Investment in a subsidiary$'000 | – | – | 16,524 | 16,524 | PDF p. 19 |
| Investment in associate companies$'000 | 292 | 290 | – | – | PDF p. 19 |
| Investment property$'000 | 217 | 243 | – | – | PDF p. 19 |
| Financial assets, at FVOCI$'000 | 580 | 1,213 | – | – | PDF p. 19 |
| Subtotal$'000 | 9,937 | 8,998 | 16,524 | 16,524 | PDF p. 19 |
| Current assets | |||||
| Other current assets$'000 | 513 | 602 | 16 | 6 | PDF p. 19 |
| Trade and other receivables$'000 | 6,233 | 2,770 | 1,358 | 7,705 | PDF p. 19 |
| Cash and bank balances$'000 | 24,381 | 23,655 | 9,532 | 9 | PDF p. 19 |
| Subtotal$'000 | 31,127 | 27,027 | 10,906 | 7,720 | PDF p. 19 |
| ASSETS | |||||
| Total assets$'000 | 41,064 | 36,025 | 27,430 | 24,244 | PDF p. 19 |
| Current liabilities | |||||
| Taxation$'000 | 742 | 783 | – | – | PDF p. 19 |
| Trade and other payables$'000 | 4,889 | 3,789 | 88 | 88 | PDF p. 19 |
| Subtotal$'000 | 5,631 | 4,572 | 88 | 88 | PDF p. 19 |
| LIABILITIES | |||||
| Total liabilities$'000 | 5,631 | 4,572 | 88 | 88 | PDF p. 19 |
| NET ASSETS$'000 | 35,433 | 31,453 | 27,342 | 24,156 | PDF p. 19 |
| EQUITY | |||||
| Share capital$'000 | 26,341 | 24,142 | 26,341 | 24,142 | PDF p. 19 |
| Other reserves$'000 | 4,369 | 36,157 | – | – | PDF p. 19 |
| Retained earnings/(Accumulated Losses)$'000 | 4,723 | (28,846) | 1,001 | 14 | PDF p. 19 |
| Total equity$'000 | 35,433 | 31,453 | 27,342 | 24,156 | PDF p. 19 |
Definitions & sources
Original report: PDF p. 19 ↗
Retained earnings label wraps over two lines ('Retained earnings/(Accumulated' / 'Losses)'); the quote is the numeric continuation line.
Equity heading: Capital and reserves attributable to equity holders of the Company.
Consolidated Statement of Comprehensive Income
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, year ended 31 March 2026 | 2025Group, year ended 31 March 2025 | Source |
|---|---|---|---|
| Income | |||
| Revenue$'000 | 24,417 | 22,862 | PDF p. 18 |
| Cost of services rendered$'000 | (17,937) | (15,467) | PDF p. 18 |
| Gross profit$'000 | 6,480 | 7,395 | PDF p. 18 |
| Other income$'000 | 1,146 | 3,942 | PDF p. 18 |
| Other losses$'000 | (51) | (151) | PDF p. 18 |
| Expenses | |||
| – Administrative$'000 | 3,994 | (4,211) | PDF p. 18 |
| – Finance$'000 | – | (9) | PDF p. 18 |
| Income | |||
| Share of profit of associated companies$'000 | 2 | 13 | PDF p. 18 |
| Profit before income tax$'000 | 3,583 | 6,979 | PDF p. 18 |
| Income tax expense$'000 | (745) | (783) | PDF p. 18 |
| Profit for the year$'000 | 2,838 | 6,196 | PDF p. 18 |
| Other comprehensive income | |||
| Currency translation differences arising from consolidation$'000 | 23 | (667) | PDF p. 18 |
| – Fair value changes – equity investment$'000 | (633) | 194 | PDF p. 18 |
| Other comprehensive loss, at nil tax$'000 | (610) | (473) | PDF p. 18 |
| Total comprehensive income | |||
| Total comprehensive income$'000 | 2,228 | 5,723 | PDF p. 18 |
| Profit attributable to | |||
| Equity holders of the Company$'000 | 2,838 | 6,196 | PDF p. 18 |
| Total comprehensive income attributable to | |||
| Equity holders of the Company$'000 | 2,228 | 5,723 | PDF p. 18 |
| Earnings per share | |||
| Basic earnings per share (cents per share)cents per share | 0.06 | 0.18 | PDF p. 18 |
| Diluted earnings per share (cents per share)cents per share | 0.06 | 0.16 | PDF p. 18 |
Definitions & sources
Original report: PDF p. 18 ↗
Currency translation differences arising from consolidation are items that may be reclassified subsequently to profit or loss; fair value changes on FVOCI equity investment will not be reclassified.
No separate Company comprehensive income statement is presented.
Consolidated Statement of Changes in Equity - year ended 31 March 2026
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, Share capital, 2026 movements | 2026Group, Other reserves, 2026 movements | 2026Group, Retained earnings, 2026 movements | 2026Group, Total equity, 2026 movements | Source |
|---|---|---|---|---|---|
| 2026 | |||||
| Balance as at 1 April 2025$'000 | 24,142 | 36,157 | (28,846) | 31,453 | PDF p. 20 |
| Profit for the year$'000 | – | – | 2,838 | 2,838 | PDF p. 20 |
| Other comprehensive loss for the year$'000 | – | (610) | – | (610) | PDF p. 20 |
| Total comprehensive (loss)/income for the year$'000 | – | (610) | 2,838 | 2,228 | PDF p. 20 |
| 2026 Contributions to and distributions to owners of the Company | |||||
| Capital reduction exercise (Note21)$'000 | – | (31,178) | 31,178 | – | PDF p. 20 |
| Dividends paid (Note 20)$'000 | – | – | (447) | (447) | PDF p. 20 |
| Issuance of shares to Subscribers (Note 20)$'000 | 2,199 | – | – | 2,199 | PDF p. 20 |
| 2026 | |||||
| Total transactions with owners, recognised directly in equity$'000 | 2,199 | (31,178) | 30,731 | 1,752 | PDF p. 20 |
| Balance as at 31 March 2026$'000 | 26,341 | 4,369 | 4,723 | 35,433 | PDF p. 20 |
Definitions & sources
Original report: PDF p. 20 ↗
All attributable to equity holders of the Company; no non-controlling interests shown.
Consolidated Statement of Changes in Equity - year ended 31 March 2025
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Share capital, 2025 movements | 2025Group, Other reserves, 2025 movements | 2025Group, Retained earnings, 2025 movements | 2025Group, Total equity, 2025 movements | Source |
|---|---|---|---|---|---|
| 2025 | |||||
| Balance as at 1 April 2024$'000 | 18,142 | 36,630 | (35,042) | 19,730 | PDF p. 20 |
| Profit for the year$'000 | – | – | 6,196 | 6,196 | PDF p. 20 |
| Other comprehensive loss for the year$'000 | – | (473) | – | (473) | PDF p. 20 |
| Total comprehensive (loss)/income for the year$'000 | – | (473) | 6,196 | 5,723 | PDF p. 20 |
| 2025 Contributions to and distributions to owners of the Company | |||||
| Issuance of shares to Subscribers (Note 20)$'000 | 6,000 | – | – | 6,000 | PDF p. 20 |
| 2025 | |||||
| Total transactions with owners, recognised directly in equity$'000 | 6,000 | – | – | 6,000 | PDF p. 20 |
| Balance as at 31 March 2025$'000 | 24,142 | 36,157 | (28,846) | 31,453 | PDF p. 20 |
Definitions & sources
Original report: PDF p. 20 ↗
The total comprehensive row label wraps: 'Total comprehensive (loss)/income for the' / 'year'. No Company statement of changes in equity is presented.
Consolidated Statement of Cash Flows
34 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, year ended 31 March 2026 | 2025Group, year ended 31 March 2025 | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit before income tax$'000 | 3,583 | 6,979 | PDF p. 21 |
| Cash flows from operating activities - Adjustments for | |||
| – Bad debt written off$'000 | – | 48 | PDF p. 21 |
| – Write back of impairment of financial assets and contract assets$'000 | – | (6) | PDF p. 21 |
| – Depreciation of property, plant and equipment$'000 | 897 | 1,137 | PDF p. 21 |
| – Depreciation of investment property$'000 | 29 | – | PDF p. 21 |
| – Reversal of GST input tax$'000 | – | (834) | PDF p. 21 |
| – Interest expense$'000 | – | 9 | PDF p. 21 |
| – Interest income$'000 | (478) | (338) | PDF p. 21 |
| – Net gain on disposal of property, plant and equipment$'000 | (18) | (1,145) | PDF p. 21 |
| – Property, plant and equipment written off$'000 | – | 109 | PDF p. 21 |
| – Unrealised currency translation losses/(gain)$'000 | 56 | (713) | PDF p. 21 |
| – Share of profit of associated companies$'000 | (2) | (13) | PDF p. 21 |
| Cash flows from operating activities | |||
| Operating cash flow before working capital changes (unlabelled subtotal)$'000 | 4,067 | 5,233 | PDF p. 21 |
| Change in working capital, net of effects from disposals of subsidiaries | |||
| – Trade and other receivables$'000 | (3,463) | 4,355 | PDF p. 21 |
| – Other current assets$'000 | 89 | 412 | PDF p. 21 |
| – Contract liabilities$'000 | – | (5) | PDF p. 21 |
| – Trade and other payables$'000 | 1,100 | (862) | PDF p. 21 |
| Cash flows from operating activities | |||
| Cash generated from operations$'000 | 1,793 | 9,133 | PDF p. 21 |
| Income tax paid$'000 | (786) | – | PDF p. 21 |
| Net cash generated from operating activities$'000 | 1,007 | 9,133 | PDF p. 21 |
| Cash flows from investing activities | |||
| Proceeds from disposal of property, plant and equipment$'000 | 18 | 1,229 | PDF p. 21 |
| Purchases of property, plant and equipment$'000 | (2,493) | (6,574) | PDF p. 21 |
| Interest received$'000 | 478 | 338 | PDF p. 21 |
| Proceeds/(placement) of fixed deposits$'000 | 5,334 | (8,065) | PDF p. 21 |
| Net cash generated from/(used in) investing activities$'000 | 3,337 | (13,072) | PDF p. 21 |
| Cash flows from financing activities | |||
| Dividends paid$'000 | (447) | – | PDF p. 21 |
| Interest paid$'000 | – | (9) | PDF p. 21 |
| Issuance of shares to Subscribers$'000 | 2,199 | 6,000 | PDF p. 21 |
| Repayment of principal portion of lease liabilities$'000 | – | (791) | PDF p. 21 |
| Net cash generated from financing activities$'000 | 1,752 | 5,200 | PDF p. 21 |
| Cash and cash equivalents | |||
| Net increase in cash and cash equivalents$'000 | 6,096 | 1,261 | PDF p. 21 |
| Beginning of financial year$'000 | 15,590 | 14,278 | PDF p. 21 |
| Effects of currency translation on cash and cash equivalents$'000 | (36) | 51 | PDF p. 21 |
| End of financial year$'000 | 21,650 | 15,590 | PDF p. 21 |
Definitions & sources
Original report: PDF p. 21 ↗
No separate Company cash flow statement is presented.
Note 10(a) Basic earnings per share - The Group
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 31 March 2026 | 2025Group, FY ended 31 March 2025 | Source |
|---|---|---|---|
| Basic earnings per share | |||
| Net earnings attributable to equity holders of the Company ($’000)$’000 | 2,838 | 6,196 | PDF p. 44 |
| Weighted average number of ordinary shares outstanding for basic earnings per share (’000)’000 shares | 4,526,693 | 3,504,467 | PDF p. 44 |
| Basic earnings per share (cents per share)cents per share | 0.06 | 0.18 | PDF p. 44 |
Definitions & sources
Original report: PDF p. 44 ↗
Basic EPS is calculated by dividing the net profit attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding during the financial year. Weighted share label wraps over two lines: 'Weighted average number of ordinary shares outstanding for basic' / 'earnings per share (’000)'.
Note 10(b) Diluted earnings per share - The Group
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 31 March 2026 | 2025Group, FY ended 31 March 2025 | Source |
|---|---|---|---|
| Diluted earnings per share | |||
| Net earnings attributable to equity holders of the Company ($’000)$’000 | 2,838 | 6,196 | PDF p. 44 |
| Diluted earnings per share (cents per share)cents per share | 0.06 | 0.16 | PDF p. 44 |
Definitions & sources
Original report: PDF p. 44 ↗
(1) The dilutive earnings per share for both financial years take into account the issuance of Nil (FY2025 – 368 million) unlisted and transferable options extended to the Subscribers with each option carrying the right to subscribe for one new share in the capital of the Company as if the group re-organisation has been completed as at 1 April 2022.
Weighted share label is printed as 'Weighted average number of ordinary shares outstanding for basic earnings per share (’000)' in the diluted table, wrapped over two lines.
Note 20 Share capital - The Group (number of shares and amount)
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY2026 | 2025Group, FY2025 | Source |
|---|---|---|---|
| Number of shares ’000 | |||
| End of financial year’000 shares | 4,847,589 | 4,479,265 | PDF p. 52 |
| Issuance of shares to Subscribers’000 shares | 368,324 | 1,104,973 | PDF p. 52 |
Definitions & sources
Original report: PDF p. 52 ↗
Amounts column ($’000) for same rows: issuance 2,199 (2026), 6,000 (2025); end of year 26,341 (2026), 24,142 (2025). Company shows identical figures. No treasury shares held at 31 March 2026 and 2025.
Where the money comes from
Segment information
By business
Segment information - Group, Plant construction and maintenance (sole segment) 8 lines
| Item / unit | 2026Plant construction and maintenance, year ended 31 March 2026 | 2026Total, year ended 31 March 2026 | Source |
|---|---|---|---|
| Revenue | |||
| Revenue from external parties$'000 | 24,417 | 24,417 | PDF p. 63 |
| Results | |||
| Adjusted EBITDA$'000 | 4,031 | 4,031 | PDF p. 63 |
| Depreciation$'000 | (926) | (926) | PDF p. 63 |
| Share of profit of associated company$'000 | 2 | 2 | PDF p. 63 |
| Assets | |||
| Segment assets$'000 | 40,484 | 40,484 | PDF p. 63 |
| Segment assets include | |||
| Investment in associated companies$'000 | 292 | 292 | PDF p. 63 |
| Additions to | |||
| – Property, plant and equipment$'000 | (2,493) | (2,493) | PDF p. 63 |
| Liabilities | |||
| Segment liabilities$'000 | (5,631) | (5,631) | PDF p. 63 |
Notes
Management reassessed its operating segments and determined Plant Construction and Maintenance to be the sole operating segment.
Interest income and finance expenses are not allocated to segments.
Segment information - Group, Plant construction and maintenance (sole segment) 8 lines
| Item / unit | 2026Plant construction and maintenance, year ended 31 March 2026 | 2026Total, year ended 31 March 2026 | 2025Plant construction and maintenance, year ended 31 March 2025 | 2025Total, year ended 31 March 2025 | Source |
|---|---|---|---|---|---|
| Revenue | |||||
| Revenue from external parties$'000 | 24,417 | 24,417 | 22,862 | 22,862 | PDF p. 63 |
| Results | |||||
| Adjusted EBITDA$'000 | 4,031 | 4,031 | 7,787 | 7,787 | PDF p. 63 |
| Depreciation$'000 | (926) | (926) | (1,137) | (1,137) | PDF p. 63 |
| Share of profit of associated company$'000 | 2 | 2 | 13 | 13 | PDF p. 63 |
| Assets | |||||
| Segment assets$'000 | 40,484 | 40,484 | 34,812 | 34,812 | PDF p. 63 |
| Segment assets include | |||||
| Investment in associated companies$'000 | 292 | 292 | 290 | 290 | PDF p. 63 |
| Additions to | |||||
| – Property, plant and equipment$'000 | (2,493) | (2,493) | 6,574 | 6,574 | PDF p. 63 |
| Liabilities | |||||
| Segment liabilities$'000 | (5,631) | (5,631) | (4,572) | (4,572) | PDF p. 63 |
Notes
Management reassessed its operating segments and determined Plant Construction and Maintenance to be the sole operating segment.
Interest income and finance expenses are not allocated to segments.
Printed under the 2025 heading of the same table as the 2026 data.
Reconciliation of adjusted EBITDA to profit before tax 5 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Segment profits | |||
| Adjusted EBITDA for reportable segments$'000 | 4,031 | 7,787 | PDF p. 64 |
| Depreciation$'000 | (926) | (1,137) | PDF p. 64 |
| Finance expense$'000 | – | (9) | PDF p. 64 |
| Interest income$'000 | 478 | 338 | PDF p. 64 |
| Profit before tax$'000 | 3,583 | 6,979 | PDF p. 64 |
Reconciliation of segment assets to total assets (31 March) 3 lines
| Item / unit | 202631 March 2026 | 202531 March 2025 | Source |
|---|---|---|---|
| Segment assets | |||
| Segment assets for reportable segments$'000 | 40,484 | 34,812 | PDF p. 64 |
| Financial assets, at FVOCI$'000 | 580 | 1,213 | PDF p. 64 |
| Total assets$'000 | 41,064 | 36,025 | PDF p. 64 |
Notes
All assets are allocated to reportable segments other than financial assets, at FVOCI.
Reconciliation of segment liabilities to total liabilities 2 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Segment liabilities | |||
| Segment liabilities$'000 | 5,631 | 4,572 | PDF p. 64 |
| Total liabilities$'000 | 5,631 | 4,572 | PDF p. 64 |
Notes
All liabilities are allocated to reportable segments other than current and deferred income tax liabilities, borrowings and lease liabilities.
Revenue from major customers 5 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Major customers | |||
| Customer A$'000 | 10,833 | 8,806 | PDF p. 65 |
| Customer B$'000 | 3,918 | 2,575 | PDF p. 65 |
| Customer C$'000 | 824 | 1,916 | PDF p. 65 |
| Customer D$'000 | 988 | 3,609 | PDF p. 65 |
| Total of major customers (unlabelled)$'000 | 16,563 | 16,906 | PDF p. 65 |
Notes
Revenues attributable to the Plant Construction and Maintenance segment in Singapore; 4 (2025 – 4) external customers individually contributed 3% or more of Group revenues.
By geography
Geographical information 4 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Revenue | |||
| Singapore$'000 | 24,417 | 22,862 | PDF p. 65 |
| Non-current assets excluding financial assets, at FVOCI | |||
| Singapore$'000 | 9,140 | 7,542 | PDF p. 65 |
| Other countries$'000 | 217 | 243 | PDF p. 65 |
| Total non-current assets excluding financial assets, at FVOCI (unlabelled)$'000 | 9,357 | 7,785 | PDF p. 65 |
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Provision 11.6 – Dividend policy | The Company does not have a fixed policy on payment of dividends at present. The frequency, form and number of dividends to be declared depend on the Company’s profit, cash flow, capital requirements, investment and other factors as the Board deems appropriate. | Company | PDF p. 121 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| interim one-tier tax exempt dividend | $0.0001 | FY2026 (year ended 31 March 2026); comparative 2025 – Nil | PDF p. 52 |
| Group's interim dividend | 0.01 Singapore cents per share | FY2026 | PDF p. 5 |
| Proposed final dividend | S$0.0002 | FY2026 proposed final, tax-exempt (one-tier); subject to shareholder approval at AGM | PDF p. 128 |
| Record Date | 13 August 2026 | FY2026 proposed final dividend · As at 2026-08-13 | PDF p. 128 |
| Payment of the Proposed Final Dividend | 27 August 2026 | FY2026 proposed final dividend · As at 2026-08-27 | PDF p. 128 |
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| total dividend for FY2026 | 0.03 Singapore cents per share | FY2026 (interim 0.01 + proposed final 0.02); prior year none | PDF p. 5 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Independent auditor | Foo Kon Tan LLP | Group | PDF p. 17 |
| Engagement partner | Kong Chih Hsiang Raymond | Group | PDF p. 17 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 | Group and Company, year ended 31 March 2026 | PDF p. 14 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Revenue recognition – revenue from maintenance services (Note 4) | We considered the revenue recognition for maintenance services to be a key audit matter due to the quantitative significance to the financial statements and the significant risk of being recognised in the wrong accounting period. | Group | PDF p. 14 |
| Fair value of unquoted equity investment (Note 15) | The fair value of the unquoted investment is considered to be a key audit matter due to the judgements applied and the assumptions and estimates used in the determination of the fair value of the investment, and the significance of the fair value changes of the investment in the Group’s statement of comprehensive income. | Group | PDF p. 15 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2026, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.